Saturday, August 03, 2013

Unemployment Is Falling And Other Federal Fictions

Like cost of living and housing numbers cut from whole cloth by the federal government each month, the unemployment numbers are pure fiction, meaningless numbers from meaningless calculations using meaningless assumptions by those who have something to gain. Even as government and its public relations arm, the mainstream media, breathlessly heralded the fall in the unemployment rate from 7.6% to 7.4%, the truth behind those numbers is the following:

- the "unemployment rate" has been going down because the government has been pretending that millions upon millions of American workers simply do not want jobs anymore. Why do they assume that? Because they want to.

A far more accurate measurement than the highly manipulated "unemployment rate" is the civilian employment-population ratio, that is, what percentage of working age Americans actually have a job. Before the last recession, 63 percent of all working age Americans had a job. During the recession, that number plunged below 59 percent, and has remained below 59 percent for 47 consecutive months, the first time in the post-World War II era that the ratio has not bounced back after a recession.

Other facts the government doesn't advertise are as follows:

- 76.7 percent of the jobs that have been "created" in 2013 have been part-time jobs.

- The percentage of working age Americans under the age of 30 with a job fell from 47.0% in June 2012 to 43.6% in June 2013.

- Families that have a head of household under the age of 30 have a poverty rate of 37 percent.

- One out of every four American workers has a job that pays $10 an hour or less.

- 53 percent of all American workers make less than $30,000 a year.

Bottom line: As far as employment is concerned, the last recession never ended no matter what kind of smiley face is painted on the pig.

More on this topic can be found here:


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